Telemark Asset Management LLC Purchases New Shares in Caterpillar Inc. (NYSE:CAT)

Telemark Asset Management LLC purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 150,000 shares of the industrial products company’s stock, valued at approximately $34,781,000. Caterpillar makes up approximately 2.9% of Telemark Asset Management LLC’s investment portfolio, making the stock its 5th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAT. Brand Asset Management Group Inc. bought a new stake in Caterpillar in the first quarter worth $26,000. IronBridge Private Wealth LLC bought a new stake in Caterpillar in the fourth quarter worth $30,000. HBC Financial Services PLLC bought a new stake in Caterpillar in the fourth quarter worth $31,000. Oder Investment Management LLC bought a new stake in Caterpillar in the fourth quarter worth $34,000. Finally, Versant Capital Management Inc boosted its holdings in Caterpillar by 51.0% in the first quarter. Versant Capital Management Inc now owns 145 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 68.22% of the company’s stock.

In other news, insider Joseph E. Creed sold 7,699 shares of the company’s stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $245.12, for a total value of $1,887,178.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Maclennan acquired 420 shares of the company’s stock in a transaction dated Wednesday, May 5th. The stock was acquired at an average cost of $237.86 per share, with a total value of $99,901.20. Following the purchase, the director now owns 890 shares of the company’s stock, valued at $211,695.40. The disclosure for this purchase can be found here. Corporate insiders own 0.18% of the company’s stock.

A number of research analysts have recently issued reports on CAT shares. Wolfe Research started coverage on Caterpillar in a report on Monday, April 19th. They set an “outperform” rating and a $265.00 price target on the stock. Citigroup upped their price target on Caterpillar from $205.00 to $245.00 in a report on Tuesday, March 16th. Morgan Stanley upped their price target on Caterpillar from $168.00 to $181.00 and gave the company an “underweight” rating in a report on Friday, April 30th. Evercore ISI upped their price target on Caterpillar from $240.00 to $303.00 in a report on Wednesday, May 12th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $264.00 price target on shares of Caterpillar in a report on Thursday, May 27th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. Caterpillar presently has a consensus rating of “Hold” and a consensus price target of $219.29.

CAT traded down $4.79 during midday trading on Friday, reaching $220.94. The company had a trading volume of 325,944 shares, compared to its average volume of 3,150,164. The company has a current ratio of 1.60, a quick ratio of 1.15 and a debt-to-equity ratio of 1.59. The company’s 50-day moving average price is $235.44. The firm has a market capitalization of $121.03 billion, a P/E ratio of 36.29, a P/E/G ratio of 2.07 and a beta of 0.93. Caterpillar Inc. has a 1 year low of $118.01 and a 1 year high of $246.69.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 29th. The industrial products company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.94. The business had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11 billion. Caterpillar had a return on equity of 26.63% and a net margin of 7.99%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.60 earnings per share. Research analysts forecast that Caterpillar Inc. will post 9.66 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 20th. Stockholders of record on Tuesday, July 20th will be paid a $1.11 dividend. This is a positive change from Caterpillar’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, July 19th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.01%. Caterpillar’s dividend payout ratio is 62.80%.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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